The Manhattan real estate market in late 2025 can best be described as balanced with the luxury market continuing to outperform.
According to The Olshan Report, which tracks Manhattan luxury homes priced at $4M and above, 1,436 contracts were signed in 2025, totaling nearly $12B in sales, making 2025 the second-strongest year since the report began in 2006. (The record year remains 2021, the post-pandemic rebound, when 1,877 contracts were signed for almost $16B in sales.)
In this market, condos outsold co-ops by more than three to one, with about half of those condo sales coming from new development. These properties continue to appeal to affluent buyers who value private ownership and strong amenities, and often pay in cash. Despite challenges such as higher mortgage rates, global instability, tariffs, and a contentious NYC mayoral election, the luxury market performed remarkably well.
Meanwhile, the rental market remains red hot, with Manhattan’s median monthly rent now at $4,973. Part of this price surge may be attributed to the NYC Fairness in Apartment Rental Expenses (FARE Act), which took effect in June and prohibits landlords and listing agents from charging broker fees to tenants. While the fee has technically shifted to landlords, it’s often being passed back to tenants through higher rents. Perhaps this will cause some renters to become buyers in 2026.
In real estate, lasting success comes from showing up consistently—with professionalism, hard work, and careful attention to detail. I approach every transaction as a trusted advocate for my clients, offering clear guidance, smart strategy, and results they can rely on. My business has always been built on relationships, and I’m grateful for the trust and referrals that continue to shape it.
If you—or anyone you know—are considering buying, selling, or renting, or simply want a clearer picture of the market, I’d be happy to be a resource. As part of the Coldwell Banker Global Luxury® network, I can also connect clients with trusted professionals across the U.S. and the world.
Wishing you a happy, healthy, and successful 2026!
